Mini Program: Daily Real Estate Industry News Summary.
The interest rate of personal residence commercial loans "discount on discount" has been reduced to a minimum of 2.9% for first-time buyers in Guangzhou.
Among the current first-tier cities, the minimum interest rate for first-time buyers in Guangzhou can be as low as 2.9%, which is close to the 2.85% interest rate for provident fund loans. According to Fangweishi's statistics, the housing loan interest rates of state-owned banks in Guangzhou are still above 3%, with the first-time residential loan interest rates of China CITIC Bank, Agricultural Bank of China, Industrial and Commercial Bank of China, and China Construction Bank at 3.1%, 3.1%, 3.1%, and 3.15% respectively. At present, the first-time residential loan interest rates of three banks in Guangzhou can be below 3%, of which two are foreign banks, HSBC and Standard Chartered Bank. HSBC has the lowest interest rate and the interest rate for first-time buyers can be as low as 2.9%. The interest rate for first-time buyers of Standard Chartered Bank and Guangzhou Bank is 2.95%, slightly higher than that of HSBC, but it is also at a relatively low level. (21st Century Business Herald)
Several cities in Guangdong are buying commercial housing for indemnificatory apartments. In Zhaoqing, priority is given to the existing stock of commercial housing in the central urban area.
On August 12, the Housing and Urban-Rural Development Bureau of Zhaoqing City, Guangdong Province issued a notice on "collecting commercial housing as indemnificatory apartments", and the collection period ends on August 30, 2024. According to the notice, the collection of housing resources is planned to be in the central areas of each county (city, district) in Zhaoqing City, and the existing stock of commercial housing in the central urban area is given priority. The resettlement price on the same site is used as the reference upper limit, which is the land allocation cost, construction cost, and profit of not more than 5%. First-tier cities such as Shenzhen and Guangzhou have joined the ranks of purchases of commercial housing for indemnificatory apartments. (The Paper)
Zhaoqing collected commercial housing for indemnificatory apartments, with an area of less than 120 square meters.
On August 12, the Housing and Urban-Rural Development Bureau of Zhaoqing City, Guangdong Province issued a notice on "collecting commercial housing as indemnificatory apartments". The announcement shows that in order to thoroughly implement the decisions and arrangements of the central committee of the party, the State Council, and the provincial party committee and government on real estate work, digest the stock of real estate, promote the construction of a new development pattern of real estate, and promote the stable and healthy development of Zhaoqing's real estate market. According to the principle of government-led and market-oriented operation and the principle of voluntary participation of both parties, it is now collecting completed but unsold commercial housing as indemnificatory apartments. Relevant matters are hereby announced: the scope of housing source collection is the central area of each county (city, district) in Zhaoqing City, and the existing stock of commercial housing in the central urban area is given priority.
The average price of second-hand residential buildings in 100 cities in July fell by 6.58% year-on-year according to Centaline Property.
According to the report from China Index Academy, based on the China Real Estate Index System's price index of 100 cities, the average price of second-hand residences in 100 cities fell 0.74% month-on-month in July 2024, a 0.01 percentage point increase from June's decline; it also fell 6.58% year-on-year, a decline of 0.33 percentage points compared to June. In July, the average price of second-hand residences in the top ten cities fell 0.84% month-on-month, a 0.13 percentage point increase from June's decline, and it also fell 6.64% year-on-year, a 0.46 percentage point decline compared to June.
Zhengzhou plans to introduce new rules for housing provident fund, and those who buy and distribute indemnificatory apartments can apply for loans.
The Zhengzhou Housing Provident Fund Management Center has publicly solicited opinions on the "Trial Measures for the Management of Loans for Equity-type Indemnificatory Housing for Zhengzhou Housing Provident Fund (Draft for Comment)". The collection time is from August 12, 2024 to August 21, 2024. The management measures propose that those who buy indemnificatory housing within the administrative area of Zhengzhou and meet the requirements for applying for housing provident fund loans can apply for indemnificatory housing loans.
The year-on-year decrease of new house transaction volume in 50 Chinese cities has narrowed for five consecutive months according to JLL.
A report released by the Shanghai E-House Real Estate Research Institute on the 13th showed that in July, the year-on-year decrease in the volume of new homes sold in 50 major cities in China has been narrowing for five consecutive months, indicating a stabilization trend in the market. The report pointed out that in July, the trading area of new commodity residences in 50 key cities in China was 11.41 million square meters, a year-on-year decrease of 13%. In February this year, this indicator once reached a year-on-year decline of 69%. However, in the following months, the decrease in this indicator has generally been shrinking. The report predicts that in August, the trading area of new homes in the 50 cities will have the first negative-to-positive shift in 15 months on a year-on-year basis.
Vanke sets up a 2.234 billion consumer infrastructure fund and intends to acquire two projects in Beijing and Shenzhen.
China Vanke Co., Ltd. announced that its subsidiaries, Hainan Vanke and Shenzhen Vanke, have signed a contract with Citic Jinshi Fund Management Co., Ltd., Citic Securities Investment Co., Ltd., and Taikang Life Insurance Co., Ltd. to jointly invest in the Citic Vanke Consumer Infrastructure Fund. The fund has a fundraising target of 2.234 billion yuan and will be used to acquire assets held by the Beijing Jiugong Vanke Plaza and Shenzhen Longgang Vanke Plaza, subsidiaries of Vanke. Hainan Vanke and Shenzhen Vanke respectively subscribed to 10 million yuan and 1.242 billion yuan, totaling a share ratio of 56.05%. This investment does not constitute a major asset reorganization and does not require the approval of the board of directors.
Moody's downgraded the family rating of Vanke and its subsidiaries to "B1" with a negative outlook.
On August 14, international rating agency Moody's announced that it had lowered the family rating of China Vanke Co., Ltd. and its wholly-owned subsidiary Vanke Property (Hong Kong) Co., Ltd. to "B1" and gave a negative outlook.
Despite surging Tokyo housing prices, Japan's house price-to-income ratio is still lower than the OECD average. According to data from the Organization for Economic Cooperation and Development (OECD), Japan's housing prices are lower than the average level when compared with income. Japan tends to rebuild houses, and the second-hand housing market is not active, including increasing vacant houses in various regions. There is a surplus of housing in various regions of Japan, and the prices are behind the international level.
In terms of Japanese residential prices, the average price of residential buildings in the heart of Tokyo has exceeded 1 billion yen. However, compared with the international level, the situation is clearly different, and Japan's housing is still at a level that can be called "cheap." Data from the Organization for Economic Cooperation and Development (OECD) shows that Japan is lower than the average level in terms of housing prices compared to income. Japan tends to rebuild houses, and the second-hand housing market is not active, including increasing vacant houses in various regions. There is a surplus of housing in various regions of Japan, and the prices are behind the international level.
Jiujiang Chaisang District, Jiangxi: Group purchase of commodity housing can enjoy a purchase subsidy discount of 12% of the total price before the end of the year.
The People's Government office of Chaisang District, Jiujiang City, Jiangxi Province issued a notice on "Several Measures to Further Promote the Healthy Cycle and Steady and Healthy Development of the Real Estate Market in Chaisang District, Jiujiang City", involving purchase coupons, group purchase subsidies, and implementation of housing tickets. Starting from August 15, 2024 to December 31, 2024, on a household basis, a total of 300 purchase coupons will be issued to those who purchase new commodity housing in this area (in the order of submitting online signing according to the time of signing the contract for the commodity house). The face value of the purchase coupon is 10% of the total price of the commodity housing purchased according to the contract (of which the government and real estate development enterprises each bear 5%). At the same time, the policy of "commodity house group buying" subsidy will be implemented. To guarantee the settlement of new talents and meet the housing needs of citizens, a multi-channel promotion of the sales of commodity housing in this area and the implementation of new urbanization development with a "people-centered" approach will be carried out. Starting from August 15, 2024 to December 31, 2024, those who purchase more than 10 sets of commodity housing in groups in this area (including 10 sets) can enjoy preferential subsidy policies after being audited. The group-purchased commodity housing enjoys a 12% subsidy for the total purchase price (the government and real estate development enterprises each bear 6%). The list of real estate projects that can enjoy group purchase subsidy policy can be voluntarily applied by real estate development enterprises that undertakes a 6% group purchase subsidy and make a commitment to deliver the house, and will be publicly announced after being verified by the district housing and construction bureau. Real estate development enterprises can conduct group purchase activities in accordance with the formulated implementation rules, and the funds involving the part borne by the government are fully guaranteed by the district finance.